Eco
The Ministry of Trade and the Competition Affairs Council have intensified efforts to stabilize food prices and curb the increases observed in local markets by analyzing factors affecting commodity costs, combating monopolistic practices, and ensuring the continuous flow of essential products. Metham Al-Zubaidi, Deputy Chairman of the Council, indicated that specialized committees monitor prices regularly to protect citizens' rights and prevent exploitation of their need for basic goods, as part of promoting fair competition and limiting monopolistic behaviors. He explained that the rise in food prices requires ongoing coordination among relevant governmental and regulatory bodies to identify causes and distinguish increases due to supply and demand factors, import, transportation, production costs, and adjustments in the exchange rate of the dinar against the dollar. Al-Zubaidi warned against any practices violating competition rules, such as price agreements, collusion, price manipulation, or exploiting market dominance, praising the government's approach to involve the council in committees preparing economic policies affecting competition, enabling expert technical opinions and enhancing rapid responses to current market challenges. He called on traders, suppliers, and importers to adhere to existing laws and regulations and adopt transparent and fair commercial practices, urging citizens to report any suspected monopolistic or collusive practices or breaches of competition rules through official council channels, aiding in detecting violations, verifying them, and taking appropriate legal actions within authorized competencies.
